Freddie Mac: 30-year fixed-rate mortgage rises

SAN FRANCISCO (MarketWatch) -- Freddie Mac
FRE, -6.06%
said Thursday the 30-year fixed-rate mortgage average rose from the previous week to 5.05% with an average 0.7 point for the week ending Feb. 25. In the previous period, the average was 4.93%, and the year-ago average was 5.07%. "Interest rates for 30-year fixed mortgages followed long-term bond yields higher and rose above 5% this week amid a mixed set of economic data reports," said Frank Nothaft, Freddie Mac chief economist, in a statement. "For instance, the January producer price index jumped well above the market consensus, but the consumer price index remained subdued and consumer confidence declined to the lowest level since April 2009, according to the Conference Board."

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